econ - -Net exports(Xn Income Approach(GDP National income...

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Components of national income: - Compensation of employees - Rents - Interest - Proprietor’s income - Corporate profits o Corporate income taxes o Dividends o Undistributed corporate profits - Expenditures Approach (GDP): - Personal consumption expenditures © - Gross private domestic investment (Ig) - Government purchases (G)
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Unformatted text preview: -Net exports (Xn) Income Approach (GDP): National income – net foreign factor income + statistical discrepancy + consumption of fixed capital = Gross domestic product (GDP) Income Approach (NDP): Gross domestic product – consumption of fixed capital (depreciation) = Net domestic product (NDP)...
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This note was uploaded on 03/28/2010 for the course ECON- 001 taught by Professor Loncke during the Spring '10 term at Howard.

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